Analysts Set QuidelOrtho Co. (NASDAQ:QDEL) PT at $46.83

QuidelOrtho Co. (NASDAQ:QDEL) has received a consensus rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $46.83.

Several brokerages recently commented on QDEL. UBS Group lifted their target price on shares of QuidelOrtho from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada decreased their price objective on shares of QuidelOrtho from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. StockNews.com lowered shares of QuidelOrtho from a “buy” rating to a “hold” rating in a report on Saturday, February 15th. Finally, JPMorgan Chase & Co. reduced their price target on QuidelOrtho from $38.00 to $25.00 and set an “underweight” rating on the stock in a report on Monday, April 21st.

Hedge Funds Weigh In On QuidelOrtho

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of QuidelOrtho during the 4th quarter worth approximately $43,000. True Wealth Design LLC boosted its position in shares of QuidelOrtho by 300.7% during the fourth quarter. True Wealth Design LLC now owns 1,074 shares of the company’s stock valued at $48,000 after purchasing an additional 806 shares in the last quarter. Blue Trust Inc. grew its stake in QuidelOrtho by 188.0% in the fourth quarter. Blue Trust Inc. now owns 1,293 shares of the company’s stock worth $58,000 after purchasing an additional 844 shares during the period. Spire Wealth Management bought a new position in QuidelOrtho in the fourth quarter worth $74,000. Finally, KBC Group NV lifted its position in QuidelOrtho by 122.9% during the fourth quarter. KBC Group NV now owns 3,437 shares of the company’s stock valued at $153,000 after buying an additional 1,895 shares during the period. Hedge funds and other institutional investors own 99.00% of the company’s stock.

QuidelOrtho Price Performance

QDEL stock opened at $25.85 on Monday. The firm has a 50 day simple moving average of $31.51 and a two-hundred day simple moving average of $38.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 0.69. The stock has a market cap of $1.74 billion, a PE ratio of -0.85 and a beta of 0.13. QuidelOrtho has a one year low of $23.77 and a one year high of $49.45.

QuidelOrtho (NASDAQ:QDEL) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.13. QuidelOrtho had a positive return on equity of 3.78% and a negative net margin of 72.84%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. On average, analysts predict that QuidelOrtho will post 2.3 EPS for the current fiscal year.

QuidelOrtho Company Profile

QuidelOrtho Corporation provides diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point-of-Care, and Molecular Diagnostics business units. The Labs business unit provides clinical chemistry laboratory instruments and tests that measure target chemicals in bodily fluids for the evaluation of health and the clinical management of patients; immunoassay laboratory instruments and tests, which measure proteins as they act as antigens in the spread of disease, antibodies in the immune response spurred by disease, or markers of proper organ function and health; testing products to detect and monitor disease progression across a spectrum of therapeutic areas; and specialized diagnostic solutions.